Martin Gilbert CA, CEO of Aberdeen Asset Management,
said: "UK business cannot ignore the structural development of China. It is
already the second largest economy in the world and will sooner or later
surpass the US.

"The work undertaken
to obtain a Wholly Foreign-Owned
Enterprise licence is part of our overall
strategy to ensure Aberdeen Asset Management is well placed for the next 10 to
20 years."

The announcement was made during a week-long tour of China by UK
ministers and leading UK businesses, led by Chancellor George Osborne.

Secretary of State for Business, Sajid Javid, said: "As
we deepen UK-China relations it is rewarding to see Aberdeen Asset Management
licensed to operate in China. The company will bring fund management expertise
from the UK to the second largest economy in the world."